<SEC-DOCUMENT>0000928816-14-000447.txt : 20140327
<SEC-HEADER>0000928816-14-000447.hdr.sgml : 20140327
<ACCEPTANCE-DATETIME>20140327172035
ACCESSION NUMBER:		0000928816-14-000447
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20140131
FILED AS OF DATE:		20140327
DATE AS OF CHANGE:		20140327
EFFECTIVENESS DATE:		20140327

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JOHN HANCOCK INCOME SECURITIES TRUST
		CENTRAL INDEX KEY:			0000759866
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04186
		FILM NUMBER:		14722560

	BUSINESS ADDRESS:	
		STREET 1:		C/O JOHN HANCOCK FUNDS
		STREET 2:		601 CONGRESS STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		617-663-3000

	MAIL ADDRESS:	
		STREET 1:		C/O JOHN HANCOCK FUNDS
		STREET 2:		601 CONGRESS STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HANCOCK JOHN INCOME SECURITIES TRUST /MA
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>a_incomesecurities.htm
<DESCRIPTION>JOHN HANCOCK INCOME SECURITIES TRUST
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   <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>UNITED STATES</FONT>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>SECURITIES AND EXCHANGE COMMISSION</FONT>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>Washington, D.C. 20549</FONT>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><B><FONT size=3 face=serif>FORM N-Q</FONT></B>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><B><FONT size=3 face=serif>QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</FONT></B>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><B><FONT size=3 face=serif>MANAGEMENT INVESTMENT COMPANIES</FONT></B>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>Investment Company Act file number </FONT><U><FONT size=3 face=serif>811-4186</FONT></U>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><U><FONT size=3 face=serif>John Hancock Income Securities Trust</FONT></U>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>(Exact name of registrant as specified in charter)</FONT>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><U><FONT size=3 face=serif>601 Congress Street, Boston, Massachusetts 02210</FONT></U>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>(Address of principal executive offices) (Zip code)</FONT>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>Salvatore Schiavone, Treasurer</FONT>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>601 Congress Street</FONT>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><U><FONT size=3 face=serif>Boston, Massachusetts 02210</FONT></U>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>(Name and address of agent for service)</FONT>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=left><FONT size=3 face=serif>Registrant's telephone number, including area code: </FONT><U><FONT size=3 face=serif>617-663-4497</FONT></U>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=3 face=serif>Date of fiscal year end:</FONT>&nbsp;</TD>

   <TD noWrap align=left><FONT size=3 face=serif>October 31</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=3 face=serif>Date of reporting period:</FONT>&nbsp;</TD>

   <TD noWrap align=left><FONT size=3 face=serif>January 31, 2014</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>ITEM 1. SCHEDULE OF INVESTMENTS</FONT></P></DIV>









































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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Corporate Bonds 77.3% (52.9% of Total Investments)</FONT></B>&nbsp;</TD>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$139,085,675</FONT></B>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $132,862,183)</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Consumer Discretionary 8.4%</FONT></B>&nbsp;</TD>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>15,052,414</FONT></B>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Auto Components 0.4%</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Dana Holding Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$395,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>395,988</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Stackpole International Intermediate Company SA (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>245,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>255,413</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Automobiles 2.2%</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Ford Motor Credit Company LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>108,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>119,757</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Ford Motor Credit Company LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/02/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,998,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,280,152</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Ford Motor Credit Company LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>330,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>389,319</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>General Motors Company (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/02/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>445,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>450,563</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Hyundai Capital Services, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/27/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>329,960</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Nissan Motor Acceptance Corp. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.950</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/12/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>490,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>490,590</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Hotels, Restaurants &amp; Leisure 2.0%</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>CCM Merger, Inc. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/01/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>380,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>400,900</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Greektown Superholdings, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>13.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/01/15</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,713,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,764,390</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Landry's, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>350,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>380,625</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Little Traverse Bay Bands of Odawa Indians (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/31/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>299,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>272,090</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Seminole Tribe of Florida, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.535</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>650,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>718,250</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Waterford Gaming LLC (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/15/14</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>149,591</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>42,717</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Internet &amp; Catalog Retail 0.3%</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>QVC, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>325,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>313,274</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>QVC, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/02/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>205,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>208,147</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Media 2.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>21st Century Fox America, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.600</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/11/15</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,000,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,104,331</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>21st Century Fox America, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.150</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/01/37</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>165,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>187,438</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>21st Century Fox America, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.400</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>150,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>175,797</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>21st Century Fox America, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/20/24</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,020,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,260,584</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>CBS Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/30/30</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>595,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>766,910</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Cinemark USA, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>250,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>236,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Gibson Brands, Inc. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/01/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>120,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>127,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Myriad International Holdings BV (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/18/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>200,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>210,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Time Warner Cable, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/01/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>350,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>414,146</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Multiline Retail 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Macy's Retail Holdings, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/15/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>444,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>497,785</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Specialty Retail 0.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>AutoNation, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>655,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>699,213</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>The Hillman Group, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>255,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>274,125</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Textiles, Apparel &amp; Luxury Goods 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Hot Topic, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>270,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>286,200</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Consumer Staples 2.9%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>5,263,136</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Beverages 0.4%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Crestview DS Merger Sub II, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>337,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Pernod-Ricard SA (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/07/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>325,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>367,065</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Food &amp; Staples Retailing 0.9%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Safeway, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>125,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>129,120</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Safeway, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>840,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>904,056</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Safeway, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/01/31</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>225,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>237,279</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Smithfield Foods, Inc. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>85,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>86,275</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

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<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="33%"></TD>

   <TD width="66%"></TD></TR>

<TR vAlign=bottom>

   <TD align=center colSpan=2><FONT face=serif size=2>1</FONT></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="40%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Consumer Staples (continued)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Tops Holding II Corp., PIK (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$235,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$243,813</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Food Products 0.9%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>B&amp;G Foods, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>195,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>188,906</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Bunge, Ltd. Finance Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>389,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>485,634</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Corporacion Pesquera Inca SAC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/10/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>340,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>334,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>KazAgro National Management Holding JSC (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/24/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>200,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>181,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Simmons Foods, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/01/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>475,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>510,625</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Personal Products 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Prestige Brands, Inc. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>260,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>260,000</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Tobacco 0.6%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Alliance One International, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>820,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>789,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Vector Group, Ltd.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>195,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>208,163</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Energy 10.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>18,148,228</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Energy Equipment &amp; Services 1.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Astoria Depositor Corp. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.144</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,000,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,030,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Key Energy Services, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>270,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>277,425</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>RKI Exploration &amp; Production LLC (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>270,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>286,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Rowan Companies, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>330,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>343,979</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Trinidad Drilling, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>265,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>283,550</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Gas Utilities 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>DCP Midstream LLC (5.850% to 5-21-23, then 3 month</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 3.850%) (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.850</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/21/43</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>370,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>342,250</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Oil, Gas &amp; Consumable Fuels 8.7%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Afren PLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/08/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>240,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>275,640</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>BreitBurn Energy Partners LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>320,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>340,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>CNOOC Finance 2013, Ltd. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/09/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>230,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>204,427</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Continental Resources, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/15/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>515,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>531,094</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>DCP Midstream LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>405,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>515,488</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>DCP Midstream Operating LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>225,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>214,909</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Ecopetrol SA</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/18/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>190,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>197,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Energy Transfer Partners LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.200</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/01/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>135,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>144,682</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Energy Transfer Partners LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.700</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>425,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>554,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Enterprise Products Operating LLC (7.000% to 6-1-17, then 3</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>month LIBOR + 2.777%) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/67</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>695,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>717,588</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Enterprise Products Operating LLC (8.375% to 8-1-16, then 3</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>month LIBOR + 3.708%)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/01/66</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>230,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>255,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>EP Energy LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/01/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>195,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>215,475</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>EV Energy Partners LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>400,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>407,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Halcon Resources Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>200,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>199,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Hess Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>570,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>715,326</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Kerr-McGee Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.950</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/01/24</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>600,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>723,295</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Kinder Morgan Energy Partners LP</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/32</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>195,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>241,629</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Lukoil International Finance BV (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.416</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/24/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>675,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>669,938</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Midstates Petroleum Company, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>425,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>442,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Newfield Exploration Company (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/30/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>260,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>268,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>NuStar Logistics LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.150</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>381,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>429,578</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Pacific Rubiales Energy Corp. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/26/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>335,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>336,675</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Petro-Canada (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,000,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,351,506</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Petrobras Global Finance BV (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/20/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>365,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>322,012</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Petrohawk Energy Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>595,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>648,550</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Petroleos de Venezuela SA</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/12/27</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>550,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>270,875</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Energy (continued)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Petroleos Mexicanos (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/24/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$275,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$280,005</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Plains Exploration &amp; Production Company</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/01/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>705,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>772,856</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Plains Exploration &amp; Production Company</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>110,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>121,550</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Regency Energy Partners LP</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>480,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>468,000</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Summit Midstream Holdings LLC (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>150,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>159,750</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>TransCanada Pipelines, Ltd. (6.350% to 5-15-17, then 3</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>month LIBOR + 2.210%) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.350</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/67</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>710,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>733,015</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Tullow Oil PLC (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>230,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>235,175</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Williams Partners LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,460,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,620,461</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Financials 28.8%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>51,807,923</FONT></B>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Capital Markets 4.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Credit Suisse Group AG (7.500% to 12/11/2023, then 5 year</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>U.S. Swap Rate + 4.598%) (Q)(S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/11/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>295,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,488</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Jefferies Group LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,005,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,163,885</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Jefferies Group LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>235,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>289,286</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Macquarie Bank, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/07/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>260,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>293,474</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Macquarie Group, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/14/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>340,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>380,202</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Morgan Stanley (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.100</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/22/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>580,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>565,538</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Morgan Stanley (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/26/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>450,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>508,444</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Morgan Stanley (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.550</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/27/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>565,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>633,133</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Morgan Stanley (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/25/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>515,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>585,785</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Morgan Stanley</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.300</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/13/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>895,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,093,944</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>The Goldman Sachs Group, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/27/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,195,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,311,799</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>The Goldman Sachs Group, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/24/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>105,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>118,737</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Walter Investment Management Corp. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>455,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>460,688</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Commercial Banks 4.9%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Abbey National Treasury Services PLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/27/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>420,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>446,581</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Ally Financial, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/10/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>315,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>329,175</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Banco do Brasil SA/Cayman Island (6.250% to 4-15-24, then</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>10 Year U.S. Treasury + 4.398%) (Q)(S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/24</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>470,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>361,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Barclays Bank PLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.179</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/12/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>575,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>763,295</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Barclays Bank PLC (5.926% to 12-15-16, then 3 month</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 1.750%) (Q)(S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.926</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>327,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>BPCE SA (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.700</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/22/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>645,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>666,208</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Commerzbank AG (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/19/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>350,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>384,125</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Fifth Third Bancorp (5.100% to 6-30-23, then 3 month LIBOR</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>+ 3.033%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.100</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/30/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>420,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>370,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>HBOS PLC (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/21/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>825,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>936,213</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>ICICI Bank, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/16/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>475,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>496,851</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Manufacturers &amp; Traders Trust Company (5.629% to</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>12/01/2016, then 3 month LIBOR + 6.400%)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.629</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>150,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>156,000</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Nordea Bank AB (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/20/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>680,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>714,704</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>PNC Financial Services Group, Inc. (P)(Q)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.459</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/17/14</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>250,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>250,313</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>PNC Financial Services Group, Inc. (4.850% to 6-1-23, then</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>3 month LIBOR + 3.040%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.850</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>280,550</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Sberbank of Russia (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/07/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>200,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>208,500</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Swedbank AB (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/29/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>460,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>465,109</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Synovus Financial Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>200,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>225,750</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>VTB Bank OJSC (9.500% to 12-6-22, then 10 Year U.S.</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Treasury + 8.067%) (Q)(S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/06/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>235,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>251,450</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Wachovia Bank NA (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.850</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/01/37</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>390,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>460,773</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Wells Fargo &amp; Company, Series K (7.980% to 3-15-18, then</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>3 month LIBOR + 3.770%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.980</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>635,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>715,963</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Financials (continued)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Consumer Finance 1.6%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Capital One Financial Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$1,100,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$1,064,941</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Capital One Financial Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>585,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>635,367</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Discover Bank (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>270,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>319,365</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Discover Financial Services (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.200</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/27/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>585,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>622,816</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Springleaf Finance Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Diversified Financial Services 7.9%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Bank of America Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.300</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/11/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>260,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>249,664</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Bank of America Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/13/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>670,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>734,026</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Bank of America Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.700</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/24/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>370,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>422,053</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Bank of America Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/25/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,000,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,193,187</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Bank of America NA (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.300</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>150,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>166,199</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Citigroup, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/25/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>185,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>182,712</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Citigroup, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/13/25</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>405,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>427,417</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Citigroup, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>332,895</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Comcel Trust (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/06/24</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>330,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>324,169</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Doric Nimrod Air Alpha 2013-1 Pass Through Trust (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/30/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>200,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>205,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Doric Nimrod Air Alpha 2013-1 Pass Through Trust (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/30/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>200,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>207,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Doric Nimrod Air Finance Alpha, Ltd. 2012-1 Class A Pass</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Through (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/30/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>187,719</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>194,759</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>General Electric Capital Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/16/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>365,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>399,439</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>General Electric Capital Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.550</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/04/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>615,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>714,279</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>General Electric Capital Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/14/38</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>160,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>184,899</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>General Electric Capital Corp. (6.375% to 11-15-17, then 3</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>month LIBOR + 2.289%)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/15/67</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>170,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>184,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>General Electric Capital Corp. (7.125% until 6-15-22, then 3</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>month LIBOR + 5.296%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>600,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>674,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>ING Bank NV (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.800</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/25/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>235,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>246,303</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>ING US, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/15/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>220,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>244,121</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>ING US, Inc. (5.650% to 05/15/2023, then 3 month LIBOR +</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>3.580%)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.650</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/53</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>250,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>240,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>JPMorgan Chase &amp; Company (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/10/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>895,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>971,636</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>JPMorgan Chase &amp; Company (5.150% to 5-1-23, then 3</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>month LIBOR + 3.250%) (Q)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.150</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/01/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>375,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>340,781</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>JPMorgan Chase &amp; Company (7.900% to 4-30-18, then 3</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>month LIBOR + 3.470%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.900</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/30/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>655,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>724,561</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Leucadia National Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/18/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>655,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>672,310</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Nationstar Mortgage LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>316,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Rabobank Nederland NV (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/08/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>905,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>922,848</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>SPL Logistics Escrow LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>215,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>232,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>The Bear Stearns Companies LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/01/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,000,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,197,268</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>UBS AG (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/17/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>445,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>511,995</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>USB Realty Corp. (P)(Q)(S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.386</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>800,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>720,000</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Insurance 4.8%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Aflac, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>385,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>498,711</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>American International Group, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/24</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>295,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>299,009</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>American International Group, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>230,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>289,068</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>American International Group, Inc. (8.175% to 5-15-38, then</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>3 month LIBOR + 4.195%)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.175</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/58</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>250,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>AXA SA (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.600</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/30</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>175,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>219,285</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>CNA Financial Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>540,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>657,839</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Glen Meadow Pass-Through Trust (6.505% to 2-15-17, then</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>3 month LIBOR +2.125%) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.505</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/12/67</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>625,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>618,750</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Financials (continued)</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Liberty Mutual Group, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$650,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$698,151</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Liberty Mutual Group, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.800</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/37</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>705,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>757,875</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Lincoln National Corp. (6.050% until 4-20-17, then 3 month</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 2.040%) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.050</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/20/67</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>395,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>389,075</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Lincoln National Corp. (7.000% to 5-17-16, then 3 month</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 2.358%)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/17/66</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>135,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>137,700</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>MetLife, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.400</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>305,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>315,675</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Nippon Life Insurance Company (5.000% to 10-18-22, then 3</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>month LIBOR + 4.240%) (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/18/42</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>325,113</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Pacific LifeCorp. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/10/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>180,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>205,557</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Prudential Financial, Inc. (5.200% to 3-15-24, then 3 month</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 3.040%)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.200</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/44</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>110,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>105,820</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Prudential Financial, Inc. (5.875% to 9-15-22, then 3 month</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 4.175%) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/15/42</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>445,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>456,125</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Teachers Insurance &amp; Annuity Association of America (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.850</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/16/39</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>475,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>611,043</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>The Chubb Corp. (6.375% until 4-15-17, then 3 month LIBOR</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>+ 2.250%) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/29/67</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>335,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>369,338</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>The Hanover Insurance Group, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>150,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>168,352</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Unum Group (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/30/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>395,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>451,622</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>White Mountains Re Group, Ltd. (7.506% to 6-30-17, then 3</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>month LIBOR + 3.200%) (Q)(S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.506</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/30/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>415,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>431,012</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>WR Berkley Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>265,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>294,225</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Real Estate Investment Trusts 5.0%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>American Tower Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.700</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>400,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>416,980</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>DDR Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/01/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>880,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,024,337</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>DDR Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>110,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>136,923</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Goodman Funding Pty, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>645,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>734,312</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Health Care REIT, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.950</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>190,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>205,034</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Health Care REIT, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,205,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,382,475</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Healthcare Realty Trust, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/17/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>540,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>606,796</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Highwoods Realty LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.850</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>710,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>787,055</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Host Hotels &amp; Resorts LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>439,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>476,430</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>MPT Operating Partnership LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>320,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>330,400</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Prologis International Funding II (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>180,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>189,752</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>ProLogis LP</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.350</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>306,579</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Realty Income Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.650</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/01/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>140,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>145,229</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Ventas Realty LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/30/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>330,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>351,128</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Ventas Realty LP (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>670,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>715,596</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>WEA Finance LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/02/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>290,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>347,055</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Weyerhaeuser Company (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/32</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>690,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>875,361</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Real Estate Management &amp; Development 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>General Shopping Investments, Ltd. (12.000% to 3-20-17,</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>then 5 Year USGG + 11.052%) (Q)(S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/20/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>260,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>219,700</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Thrifts &amp; Mortgage Finance 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Nationstar Mortgage LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/01/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>295,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>331,138</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Health Care 1.6%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>2,954,355</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Health Care Providers &amp; Services 0.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Medco Health Solutions, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>275,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>328,886</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>National Mentor Holdings, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>460,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>488,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>WellCare Health Plans, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>200,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>207,000</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Pharmaceuticals 1.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Forest Laboratories, Inc. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>275,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>273,625</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT face=serif size=2>5</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="40%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Health Care (continued)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Hospira, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.050</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/30/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$485,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$539,214</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Mylan, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>545,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>615,017</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Salix Pharmaceuticals, Ltd. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>225,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>234,563</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Valeant Pharmaceuticals International, Inc. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>240,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>267,300</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Industrials 9.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>16,669,716</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Aerospace &amp; Defense 1.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Embraer Overseas, Ltd. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.696</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/16/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>296,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>297,480</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Kratos Defense &amp; Security Solutions, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>415,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>445,088</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Textron Financial Corp. (6.000% to 2-15-17, then 3 month</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 1.735%) (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/67</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>750,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>673,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Textron, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.600</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/01/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>505,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>563,282</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Textron, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/01/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>270,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>319,675</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Airlines 3.8%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>America West Airlines 2000-1 Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.057</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/02/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>140,725</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>154,094</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>American Airlines 2011-1 Class B Pass Through Trust (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/31/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>780,153</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>834,764</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>American Airlines 2013-2 Class A Pass Through Trust (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.950</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>344,492</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>366,884</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>British Airways PLC 2013-1 Class A Pass Through Trust (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/20/24</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>620,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>648,675</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.003pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>British Airways PLC 2013-1 Class B Pass Through Trust (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/20/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>155,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>163,913</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Continental Airlines 1997-4 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.900</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/02/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>307,443</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>328,964</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Continental Airlines 1998-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.648</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/15/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>127,360</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>133,728</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Continental Airlines 1999-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.545</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/02/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>178,143</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>195,067</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Continental Airlines 2000-2 Class B Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.307</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/02/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>95,805</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>100,834</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Continental Airlines 2007-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.983</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/19/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>485,880</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>533,254</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Continental Airlines 2010-1 Class A Pass Through Trust</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/12/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>133,378</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>143,048</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Continental Airlines 2012-1 Class B Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/11/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>227,838</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>240,369</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Delta Air Lines 2002-1 Class G-1 Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.718</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/02/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>613,919</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>693,728</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Delta Air Lines 2007-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.821</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/10/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>629,021</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>717,084</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Delta Air Lines 2010-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.200</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/02/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>159,933</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>178,325</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Delta Air Lines 2011-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.300</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>286,038</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>314,641</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Northwest Airlines 2007-1 Class A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.027</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/01/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>369,359</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>409,988</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>UAL 2009-1 Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.400</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/01/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>90,196</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>102,373</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>UAL 2009-2A Pass Through Trust (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>273,444</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>314,460</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>US Airways 2012-1 Class A Pass Through Trust</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.900</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/01/24</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>168,081</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>184,889</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Building Products 0.9%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Masco Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>285,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>324,188</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Owens Corning (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.200</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>395,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>390,681</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Voto-Votorantim Overseas Trading Operations NV (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/25/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>450,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>491,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Voto-Votorantim, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/05/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>490,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>512,050</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Commercial Services &amp; Supplies 0.7%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Ahern Rentals, Inc. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>195,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>211,575</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Casella Waste Systems, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>365,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>374,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Iron Mountain, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>440,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>452,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Safway Group Holding LLC (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>180,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>189,900</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Construction &amp; Engineering 0.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Aeropuertos Dominicanos Siglo XXI SA (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/13/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>300,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>237,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Empresas ICA SAB de CV (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/24/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>250,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>252,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Tutor Perini Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/01/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>335,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>357,613</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Industrial Conglomerates 0.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>KOC Holding AS (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/24/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>340,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>286,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Odebrecht Finance, Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/26/42</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>225,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>210,938</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.004pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Odebrecht Finance, Ltd. (Q)(S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/14/15</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>200,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>196,750</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Industrials (continued)</FONT></B>&nbsp;</TD>

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   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Tenedora Nemak SA de CV (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/28/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$210,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$202,650</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Marine 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Navios Maritime Acquisition Corp. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>270,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>275,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Navios South American Logistics, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>315,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>337,444</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Road &amp; Rail 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Penske Truck Leasing Company LP (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/11/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>460,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>486,078</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Trading Companies &amp; Distributors 1.0%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Air Lease Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>440,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>440,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Air Lease Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>95,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>99,988</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Air Lease Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>220,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>226,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Air Lease Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/01/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>175,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>191,844</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Aircastle, Ltd.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>160,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>181,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Glencore Funding LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/30/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>370,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>346,635</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>International Lease Finance Corp. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/01/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>290,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>335,675</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Information Technology 1.6%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>2,779,764</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Computers &amp; Peripherals 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>NCR Escrow Corp. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>215,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>223,063</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Internet Software &amp; Services 0.4%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Ancestry.com, Inc. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>135,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>140,738</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Ancestry.com, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>305,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>356,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Healthcare Technology Intermediate, Inc., PIK (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/01/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>185,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>191,244</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>IT Services 0.8%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Brightstar Corp. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/01/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>560,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>616,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Fiserv, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>800,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>851,231</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Software 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Aspect Software, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>255,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>258,188</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Blackboard, Inc. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>140,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>142,450</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Materials 5.8%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>10,485,461</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Chemicals 1.4%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Braskem Finance, Ltd. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/07/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>515,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>555,556</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>CF Industries, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>580,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>690,730</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Incitec Pivot Finance LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/10/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>345,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>383,071</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LyondellBasell Industries NV (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>455,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>509,796</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Methanex Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/01/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>330,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>355,625</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Construction Materials 0.7%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>American Gilsonite Company (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/01/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>390,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>373,425</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Cemex SAB de CV (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/10/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>340,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>345,100</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Magnesita Finance, Ltd. (Q)(S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/05/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>420,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>403,200</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Severstal Columbus LLC</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>100,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>105,250</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Containers &amp; Packaging 0.7%</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>ARD Finance SA, PIK (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>305,844</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>326,488</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Consolidated Container Company LLC (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>320,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>339,200</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Pretium Packaging LLC</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/01/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>165,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>176,138</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Rock-Tenn Company (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/01/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>480,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>478,202</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Metals &amp; Mining 2.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Allegheny Technologies, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.950</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>140,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>147,723</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Allegheny Technologies, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>715,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>879,338</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>AngloGold Ashanti Holdings PLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/30/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>405,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>424,744</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

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<TR>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

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   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Materials (continued)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>ArcelorMittal (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10.350</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$370,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$462,500</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Commercial Metals Company (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.350</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>310,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>352,625</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Edgen Murray Corp. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/01/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>201,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>231,653</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Gerdau Trade, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>225,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>202,500</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>JMC Steel Group (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>185,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>191,475</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>MMC Finance, Ltd. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.550</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/28/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>235,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>231,475</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Rain CII Carbon LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/01/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>340,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>357,000</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>SunCoke Energy, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/01/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>259,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>279,073</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Thompson Creek Metals Company, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>395,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>354,513</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Vedanta Resources PLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.125</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/31/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>300,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>268,125</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Xstrata Finance Canada, Ltd. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/25/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>220,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>211,454</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

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<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Paper &amp; Forest Products 0.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Georgia-Pacific LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/28</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>165,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>207,504</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>International Paper Company (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.375</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>385,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>508,328</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Neenah Paper, Inc. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>135,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>133,650</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Telecommunication Services 4.8%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>8,694,175</FONT></B>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Diversified Telecommunication Services 3.7%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>American Tower Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.400</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/15/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>225,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>232,660</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>BellSouth Telecommunications, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.300</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/15</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>272,472</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>284,562</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>CenturyLink, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.800</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>480,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>472,800</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>CenturyLink, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.450</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>305,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>317,581</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Crown Castle Towers LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.883</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>760,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>828,166</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Crown Castle Towers LLC (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.113</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>451,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>518,046</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>GTP Acquisition Partners I LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.704</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>485,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>485,261</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>GTP Acquisition Partners I LLC (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.628</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>650,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>697,112</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>T-Mobile USA, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.836</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/28/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>325,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>339,219</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Telecom Italia Capital SA (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.999</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/04/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>330,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>368,775</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Telecom Italia Capital SA (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.200</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/18/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>365,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>364,088</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Telefonica Emisiones SAU (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.421</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/20/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>600,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>669,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Verizon Communications, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>455,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>490,494</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Verizon Communications, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.550</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/15/43</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>470,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>565,562</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Wireless Telecommunication Services 1.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Digicel Group, Ltd. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/30/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>385,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>400,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Millicom International Cellular SA (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/22/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>210,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>198,975</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Millicom International Cellular SA (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>300,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>301,953</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>SBA Tower Trust (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.933</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>395,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>403,292</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>SBA Tower Trust (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.598</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>370,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>362,379</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>SoftBank Corp. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/15/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>400,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>393,500</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Utilities 4.0%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>7,230,503</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Electric Utilities 2.9%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Beaver Valley II Funding Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>103,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>110,245</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>BVPS II Funding Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.890</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/01/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>307,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>322,968</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>DPL, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/15/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>570,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>567,150</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Electricite de France SA (5.250% to 1-29-23, then 10 Year</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 6pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Swap Rate + 3.709%) (Q)(S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/29/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>205,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>198,081</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Exelon Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.900</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/15</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>985,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,037,186</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>FPL Energy National Wind LLC (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.608</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/10/24</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>172,388</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>169,759</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Israel Electric Corp., Ltd. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/21/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>420,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>447,559</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>NextEra Energy Capital Holdings, Inc. (6.650% to</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>06/15/2017, then 3 month LIBOR + 2.125%)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.650</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/67</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>180,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>183,375</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Oncor Electric Delivery Company LLC (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/30/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>820,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>913,590</FONT>&nbsp;</TD></TR></TABLE></DIV>

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   <TD width="100%"></TD></TR>

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   <TD noWrap align=center><FONT face=serif size=2>8</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="40%"></TD>

   <TD width="15%"></TD>

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<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Utilities (continued)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <HR noShade SIZE=1>

</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>PNPP II Funding Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.120</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/30/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$127,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$132,381</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>PPL Capital Funding, Inc. (6.700% to 3-30-17, then 3 month</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 2.665%) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.700</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/30/67</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>525,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>530,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Southern California Edison Company (6.250% to 2-1-22,</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>then 3 month LIBOR + 4.199%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/01/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>320,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>332,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>W3A Funding Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.090</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/02/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>252,509</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>253,307</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Independent Power Producers &amp; Energy Traders 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>AES Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>80,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>74,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Calpine Corp. (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/15/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>110,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>113,850</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left width="40%"><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Multi-Utilities 1.0%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Integrys Energy Group, Inc. (6.110% to 12-1-16, then 3</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>month LIBOR + 2.120%) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.110</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/01/66</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>650,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>655,688</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>MidAmerican Energy Holdings Company (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.480</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/15/28</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>550,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>767,964</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Wisconsin Energy Corp. (6.250% to 5-15-17, then 3 month</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 2.113%) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/15/67</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>410,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>420,250</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Convertible Bonds 0.3% (0.2% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$491,970</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $267,530)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Consumer Discretionary 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>491,970</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Media 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>XM Satellite Radio, Inc. (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/01/14</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>248,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>491,970</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5></TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Term Loans (M) 0.5% (0.3% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$920,566</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $923,361)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Consumer Discretionary 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>166,227</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Hotels, Restaurants &amp; Leisure 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>CCM Merger, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/01/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>164,581</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>166,227</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Consumer Staples 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>358,718</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Household Products 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>The Sun Products Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/23/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>378,095</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>358,718</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Financials 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>90,699</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Real Estate Investment Trusts 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>iStar Financial, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/16/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>90,382</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>90,699</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Industrials 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>149,490</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Aerospace &amp; Defense 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>WP CPP Holdings LLC</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/27/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>148,500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>149,490</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Utilities 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>155,432</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Electric Utilities 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>La Frontera Generation LLC</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/30/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>154,132</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>155,432</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT face=serif size=2>9</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<!--$$/page=--><A name="page_11"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="40%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="55%" colSpan=2><B><FONT face=sans-serif size=2>Capital Preferred Securities (a) 1.9% (1.3% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$3,442,391</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $3,426,452)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Financials 1.9%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>3,442,391</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Capital Markets 0.4%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>State Street Capital Trust IV (P)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.243</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/15/37</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$935,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>711,535</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Commercial Banks 0.6%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>PNC Financial Services Group, Inc. (6.750% to 8-1-21, then</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>3 month LIBOR + 3.678%) (Q)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/01/21</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>520,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>547,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Sovereign Capital Trust VI (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.908</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/13/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>480,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>481,200</FONT>&nbsp;</TD></TR>

<TR>

   <TD noWrap align=left><FONT face=sans-serif color=#000000 size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD>

   <TD noWrap align=right><FONT face=sans-serif color=#000000 size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Insurance 0.9%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>MetLife Capital Trust IV (7.875% to 12-15-32, then 3 month</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 3.960%) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/37</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>110,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>126,775</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>MetLife Capital Trust X (9.250% to 4-8-38 then 3 month</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 5.540%) (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9.250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/08/38</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>315,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>404,775</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>ZFS Finance USA Trust II (6.450% to 6-15-16 then 3 month</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 2.000%) (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.450</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/15/65</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>870,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>930,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>ZFS Finance USA Trust V (6.500% to 5-9-17, then 3 month</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>LIBOR + 2.285%) (S)(Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/09/37</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>225,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>239,906</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5></TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="70%" colSpan=3><B><FONT face=sans-serif size=2>U.S. Government &amp; Agency Obligations 34.1% (23.3% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$61,343,497</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $61,857,445)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=2>U.S. Government 9.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>17,044,093</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>U.S. Treasury</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Note</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/15/23</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>270,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>272,320</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>U.S. Treasury Bonds</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.625</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/15/43</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3,635,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3,646,926</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>U.S. Treasury Notes</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Note (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/31/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,600,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,578,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Note</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/30/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>90,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>86,885</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Note (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.875</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/30/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3,500,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3,480,586</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Note (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/30/20</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8,000,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7,979,376</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=2>U.S. Government Agency 24.6%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>44,299,404</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Federal Home Loan Mortgage Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/01/43</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,041,418</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,014,894</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/01/41</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4,775,659</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5,227,481</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/01/39</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>450,114</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>500,310</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Federal National Mortgage Association</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>15 Year Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/01/27</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,731,698</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,790,684</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>15 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/29/27</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>705,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>633,985</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Year Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/01/39</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,268,035</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,417,530</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/01/42</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4,520,488</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4,411,714</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/01/43</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>297,327</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>290,266</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/01/42</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6,122,163</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6,226,192</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/01/43</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4,524,519</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4,597,866</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/01/40</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>525,122</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>551,932</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/01/41</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>804,170</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>845,855</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/01/41</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3,435,503</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3,608,218</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/01/41</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,723,442</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,807,931</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/01/41</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,451,622</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,575,640</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/01/40</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,343,604</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,520,198</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/01/41</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,237,854</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,460,766</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT face=serif size=2>10</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<HR align=center width="100%" noShade SIZE=2>



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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="40%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>U.S. Government Agency (continued)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>04/01/41</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$653,258</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$718,431</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/01/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>787,216</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>868,121</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/01/39</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,483,836</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,630,770</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/01/40</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>259,836</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>285,729</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>30 Yr Pass Thru (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/01/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>281,825</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>314,891</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5></TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="55%" colSpan=2><B><FONT face=sans-serif size=2>Foreign Government Obligations 0.2% (0.2% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$394,800</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $369,097)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=2>South Korea 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>394,800</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Korea Development Bank (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/09/16</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>370,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>394,800</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="70%" colSpan=3><B><FONT face=sans-serif size=2>Collateralized Mortgage Obligations 17.4% (11.9% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$31,357,735</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $30,749,515)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Commercial &amp; Residential 13.8%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>24,943,795</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>American Home Mortgage Assets Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-6, Class XP IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.025</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/25/46</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5,529,520</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>359,715</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>American Home Mortgage Investment Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-1, Class 1A1 (P) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.378</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/25/45</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>634,460</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>573,451</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Americold 2010 LLC Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2010-ARTA, Class D (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>7.443</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/14/29</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>605,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>684,132</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Bear Stearns Adjustable Rate Mortgage Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-1, Class B2 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.144</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>703,550</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>48,833</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-2, Class A1 (P) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.600</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>464,792</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>474,777</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Bear Stearns Alt-A Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-5, Class 1A4 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.718</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>472,926</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>439,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-7, Class 11A1 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.698</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>713,272</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>665,609</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Bear Stearns Asset Backed Securities Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2004-AC5, Class A1</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/25/34</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>382,129</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>392,553</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Commercial Mortgage Pass Through Certificates</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2010-C1, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.895</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/10/46</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>475,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>506,381</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-CR5, Class XA IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.926</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/10/45</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4,618,037</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>485,333</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-LC4, Class B (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.934</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/10/44</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>360,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>382,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-LC4, Class C (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.824</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/10/44</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>645,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>697,644</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2013-300P, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.394</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/10/30</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>620,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>584,323</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2013-CR11, Class B (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.165</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/10/46</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>560,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>593,251</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2013-CR13, Class C (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.757</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/10/46</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>435,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>434,036</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2013-LC13, Class B (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.009</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/10/46</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>525,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>549,366</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2014-TWC, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.410</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/13/32</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>445,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>445,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Deutsche Mortgage Securities, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2004-4, Class 2AR1 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.698</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/25/34</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>557,395</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>520,206</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Extended Stay America Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2013-ESFL, Class DFL (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.308</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/05/31</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>505,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>498,797</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>GS Mortgage Securities Corp. II</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2013-KYO, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.763</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/08/29</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>570,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>570,010</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>GSR Mortgage Loan Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-4F, Class 6A1</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,090,917</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,651,684</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>HarborView Mortgage Loan Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-11, Class X IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.081</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/19/45</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,328,294</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>118,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-2, Class IX IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.161</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/19/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8,139,960</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>483,221</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-9, Class 2A1C (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.607</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/20/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>709,033</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>656,797</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-8, Class 1X IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.105</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/19/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3,155,985</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>204,527</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

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<TR>

   <TD width="100%"></TD></TR>

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   <TD noWrap align=center><FONT face=serif size=2>11</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<HR align=center width="100%" noShade SIZE=2>



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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="40%"></TD>

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<TR vAlign=bottom>

   <TD noWrap align=left>&nbsp;</TD>

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   <TD noWrap align=right><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=right><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><B><FONT face=sans-serif size=2>Commercial &amp; Residential (continued)</FONT></B>&nbsp;</TD>

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<TR>

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   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2007-3, Class ES IO (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>0.349</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>05/19/47</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>$9,297,671</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>$98,788</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2007-4, Class ES IO</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>0.350</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>07/19/47</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>9,897,855</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>98,979</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2007-6, Class ES IO (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>0.342</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>08/19/37</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>7,697,730</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>81,788</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>Hilton USA Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2013-HLT, Class DFX (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>4.407</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>11/05/30</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>241,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>245,244</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>IndyMac Index Mortgage Loan Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2005-AR18, Class 1X IO</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>2.021</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>10/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>8,215,336</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>525,078</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2005-AR18, Class 2X IO</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>1.656</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>10/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>7,449,440</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>242,687</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>JPMorgan Chase Commercial Mortgage Securities Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

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<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2007-LDPX, Class AM (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>5.464</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>01/15/49</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>945,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>981,131</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2012-PHH, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3.428</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>10/15/25</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>260,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>261,563</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2013-INMZ, Class M (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>6.138</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>09/15/18</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>510,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>512,979</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2013-JWRZ, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3.150</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>04/15/30</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>440,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>440,010</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2014-FBLU, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>2.765</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>12/15/28</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>725,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>725,930</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>Merrill Lynch Mortgage Investors Trust</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2004-1, Class 2A1 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>2.146</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>12/25/34</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>491,342</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>496,236</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>Morgan Stanley Bank of America Merrill Lynch Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

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   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2013-C7, Class C (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>4.188</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>02/15/46</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>293,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>280,386</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>MortgageIT Trust</FONT>&nbsp;</TD>

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<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2005-2, Class 1A2 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>0.488</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>05/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>472,327</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>445,965</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>Motel 6 Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2012-MTL6, Class D (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3.781</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>10/05/25</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>975,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>980,016</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>Springleaf Mortgage Loan Trust</FONT>&nbsp;</TD>

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<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2012-3A, Class M1 (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>2.660</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>12/25/59</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>265,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>262,220</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>UBS Commercial Mortgage Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2012-C1, Class B</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>4.822</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>05/10/45</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>405,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>421,939</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2012-C1, Class C (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>5.535</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>05/10/45</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>270,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>288,906</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>UBS-Barclays Commercial Mortgage Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

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   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2012-C2, Class XA IO (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>1.791</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>05/10/63</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>4,909,167</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>435,203</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>VFC 2013-1 LLC</FONT>&nbsp;</TD>

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<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2013-1, Class A (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3.130</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>03/20/26</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>309,147</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>311,947</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>VNDO Mortgage Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2013-PENN, Class D (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3.947</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>12/13/29</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>430,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>422,666</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>Wachovia Bank Commercial Mortgage Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2007-C31, Class AM (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>5.591</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>04/15/47</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>285,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>312,044</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>WaMu Mortgage Pass Through Certificates</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left><FONT face=sans-serif size=2>Series 2005-AR8, Class 2AB2 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>0.578</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>07/25/45</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>671,193</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>628,605</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>Wells Fargo Commercial Mortgage Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2013-120B, Class C (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>2.710</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>03/18/28</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>910,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>843,756</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2013-BTC, Class E (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3.550</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>04/16/35</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>620,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>513,124</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>WF-RBS Commercial Mortgage Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left><FONT face=sans-serif size=2>Series 2012-C9, Class XA IO (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>2.252</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>11/15/45</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>5,114,764</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>630,436</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2013-C15, Class B (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>4.486</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>08/15/46</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>155,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>157,431</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 2013-C16, Class B (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>4.985</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>09/15/46</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>265,000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>279,917</FONT>&nbsp;</TD></TR>

<TR>

   <TD colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><B><FONT face=sans-serif size=2>U.S. Government Agency 3.6%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=right><B><FONT face=sans-serif size=2>6,413,940</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left><FONT face=sans-serif size=2>Federal Home Loan Mortgage Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD>

   <TD noWrap align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 290, Class IO</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3.500</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>11/15/32</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3,440,490</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>673,518</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 3747, Class HI IO</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>07/15/37</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3,945,967</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>415,487</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 3794, Class PI IO</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>02/15/38</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>653,848</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>77,117</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 3830, Class NI IO</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>01/15/36</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3,131,018</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>328,134</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 4077, Class IK IO</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>07/15/42</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>902,951</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>179,377</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series 4136, Class IH IO</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3.500</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>09/15/27</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>2,584,494</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>349,345</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series K017, Class X1 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>1.445</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>12/25/21</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>2,780,909</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>243,641</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left><FONT face=sans-serif size=2>Series K018, Class X1 IO (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>1.455</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>01/25/22</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>3,718,039</FONT>&nbsp;</TD>

   <TD noWrap align=right><FONT face=sans-serif size=2>326,158</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT face=serif size=2>12</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<!--$$/page=--><A name="page_14"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;">

<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="40%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>U.S. Government Agency (continued)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series K021, Class X1 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.511</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/25/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$811,090</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$79,844</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series K022, Class X1 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.305</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/25/22</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6,039,536</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>513,487</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series K707, Class X1 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.556</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/25/18</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,447,300</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>159,951</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series K709, Class X1 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.543</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/25/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3,367,241</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>228,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series K710, Class X1 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.782</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/25/19</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,562,314</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>204,916</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Federal National Mortgage Association</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2010-68, Class CI IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/25/38</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>831,100</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>123,463</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-118, Class IB IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/25/42</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,438,401</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>318,430</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-137, Class QI IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/25/27</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,783,524</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>395,536</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-137, Class WI IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/25/32</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,047,949</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>411,438</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 402, Class 3 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/25/39</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>480,684</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>84,145</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 402, Class 4 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/25/39</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>752,313</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>153,831</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 402, Class 7 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/25/39</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>707,290</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>144,267</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 402, Class 8 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/25/39</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>640,012</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>117,932</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 407, Class 15 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/25/40</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>766,205</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>140,380</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 407, Class 21 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/25/39</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>391,618</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>59,336</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 407, Class 7 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/25/41</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>307,669</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>58,876</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 407, Class 8 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/25/41</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>314,604</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>59,007</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.202pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 407, Class C6 IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/25/40</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,226,482</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>221,835</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Government National Mortgage Association</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.203pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-114, Class IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.032</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/16/53</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2,053,594</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>188,619</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.203pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2013-42, Class IO</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/20/43</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,062,871</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>157,470</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp; </TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Asset Backed Securities 7.7% (5.3% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$13,828,982</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $13,279,032)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Asset Backed Securities 7.7%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>13,828,982</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>ACE Securities Corp.</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-HE3, Class M2 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.608</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>315,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>299,304</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-ASP5, Class A2B (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.288</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>326,889</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>166,023</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-ASP5, Class A2C (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.338</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>286,709</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>146,259</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-ASP5, Class A2D (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.418</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>547,743</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>281,295</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Aegis Asset Backed Securities Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-4, Class M1 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.608</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>750,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>626,198</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Ameriquest Mortgage Securities, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-R3, Class M2 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.628</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>480,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>438,769</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Argent Securities, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2003-W10, Class M1 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1.238</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/25/34</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>268,192</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>258,252</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2004-W6, Class M1 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.708</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/25/34</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>283,181</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>275,379</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-M2, Class A2C (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.308</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,525,851</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>607,768</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Bravo Mortgage Asset Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-1A, Class A2 (P) (S) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.398</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>07/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>690,327</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>636,401</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Citicorp Residential Mortgage Securities, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2007-2, Class A6</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.871</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/25/37</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>292,917</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>295,024</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>CKE Restaurant Holdings, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2013-1A, Class A2 (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.474</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/20/43</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,102,456</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,117,118</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>ContiMortgage Home Equity Loan Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 1995-2, Class A5</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.100</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/15/25</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>29,083</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>28,535</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Countrywide Asset-Backed Certificates</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2004-10, Class AF5B</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.110</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>530,255</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>545,705</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>CSMC Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-CF2, Class M1 (P) (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.628</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>540,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>522,974</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Dominos Pizza Master Issuer LLC</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.199pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-1A, Class A2 (S) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.216</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/25/42</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,081,550</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,159,966</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT face=serif size=2>13</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<!--$$/page=--><A name="page_15"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="40%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Asset Backed Securities (continued)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Encore Credit Receivables Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-2, Class M2 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.848</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>11/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$600,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$554,781</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>GSAA Home Equity Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-11, Class 3A1 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.428</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>700,685</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>659,143</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>GSAA Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-10, Class M3 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.708</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>675,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>630,419</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>GSAMP Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-NC1, Class A2 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.338</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>02/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>285,289</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>268,411</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Home Equity Mortgage Loan Asset-Backed Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-C, Class AII3 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.528</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>455,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>429,765</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Mastr Asset Backed Securities Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2007-HE2, Class A2 (P) (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.858</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/25/37</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>110,358</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>109,161</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Merrill Lynch Mortgage Investors, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2005-WMC1, Class M1 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.908</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>09/25/35</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>256,559</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>238,245</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Morgan Stanley ABS Capital I</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-HE4, Class A3 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.308</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>06/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>430,144</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>281,086</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Sonic Capital LLC</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2011-1A, Class A2 (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5.438</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/20/41</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>374,303</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>401,919</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Soundview Home Loan Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-OPT2, Class A3 (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.338</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>05/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>234,266</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>215,815</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Specialty Underwriting &amp; Residential Finance Trust</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2006-BC1, Class A2D (P)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>0.458</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12/25/36</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,090,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,029,339</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>Westgate Resorts LLC</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-2A, Class A (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/20/25</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>404,394</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>406,820</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-2A, Class B (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>01/20/25</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>610,717</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>618,083</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-3A, Class A (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>2.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/20/25</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>299,514</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>300,262</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2012-3A, Class B (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>4.500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/20/25</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>89,217</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>90,444</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.201pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Series 2013-1A, Class B (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>3.750</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>08/20/25</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>192,242</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>190,319</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Shares</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5></TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Common Stocks 5.3% (3.7% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$9,624,653</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $8,323,117)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Consumer Staples 0.9%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>1,566,650</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Food Products 0.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Kraft Foods Group, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>15,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>785,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=left width="15%"></TD>

   <TD noWrap align=left width="15%"></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Tobacco 0.4%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Philip Morris International, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>10,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>781,400</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Energy 0.8%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>1,362,600</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Oil, Gas &amp; Consumable Fuels 0.8%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Royal Dutch Shell PLC, ADR</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>552,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>The Williams Companies, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>20,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>809,800</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Financials 0.7%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>1,323,085</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Commercial Banks 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>U.S. Bancorp</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>14,500</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>576,085</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=left width="15%"></TD>

   <TD noWrap align=left width="15%"></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=1>Real Estate Investment Trusts 0.4%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Weyerhaeuser Company (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>25,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>747,000</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT face=serif size=2>14</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



<!--$$/page=--><A name="page_16"></A><BR>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

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<TR>

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   <TD noWrap align=left width="70%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Shares</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=2>Health Care 1.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$2,333,355</FONT></B>&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Pharmaceuticals 1.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>Eli Lilly &amp; Company (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>17,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>918,170</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>Johnson &amp; Johnson (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8,258</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>730,585</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>Sanofi, ADR (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>14,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>684,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=2>Industrials 0.8%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>1,485,773</FONT></B>&nbsp;</TD></TR>

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   <HR noShade SIZE=1>

</TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Commercial Services &amp; Supplies 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>Republic Services, Inc. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>20,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>640,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Machinery 0.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>Caterpillar, Inc.</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>845,173</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=2>Information Technology 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>638,040</FONT></B>&nbsp;</TD></TR>

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   <HR noShade SIZE=1>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Semiconductors &amp; Semiconductor Equipment 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>Intel Corp. (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>26,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>638,040</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=2>Materials 0.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>915,150</FONT></B>&nbsp;</TD></TR>

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   <HR noShade SIZE=1>

</TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Chemicals 0.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>E.I. du Pont de Nemours &amp; Company (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>15,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>915,150</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=3>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=3>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="70%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Shares</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=2>Preferred Securities (b) 1.2% (0.8% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$2,083,851</FONT></B>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="70%"><FONT face=sans-serif size=2>(Cost $1,987,056)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="70%"><B><FONT face=sans-serif size=2>Consumer Staples 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>546,094</FONT></B>&nbsp;</TD></TR>

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   <HR noShade SIZE=1>

</TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Food &amp; Staples Retailing 0.3%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>Ocean Spray Cranberries, Inc., Series A, 6.250% (S)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6,250</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>546,094</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=2>Financials 0.5%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>838,845</FONT></B>&nbsp;</TD></TR>

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   <HR noShade SIZE=1>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Capital Markets 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>The Goldman Sachs Group, Inc., 5.500% (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>12,425</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>287,266</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Commercial Banks 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>FNB Corp., 7.250%</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>9,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>238,219</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>Wells Fargo &amp; Company, Series L, 7.500%</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>192</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>222,240</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Real Estate Investment Trusts 0.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>Weyerhaeuser Company, 6.375%</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>1,700</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>91,120</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=2>Industrials 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>393,410</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=3>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Aerospace &amp; Defense 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>United Technologies Corp., 7.500% (Z)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>6,106</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>393,410</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>&nbsp;</FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2></FONT></TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=2>Telecommunication Services 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>305,502</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=3>

   <HR noShade SIZE=1>

</TD></TR>

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   <TD noWrap align=left width="70%"><B><FONT face=sans-serif size=1>Diversified Telecommunication Services 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

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   <TD noWrap align=left width="70%"><FONT face=sans-serif size=2>Intelsat SA, 5.750%</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>5,900</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>305,502</FONT>&nbsp;</TD></TR></TABLE></DIV>

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   <TD noWrap align=center><FONT face=serif size=2>15</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

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<TR>

   <TD width="40%"></TD>

   <TD width="15%"></TD>

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   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Maturity</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Rate (%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>date</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Escrow Certificates 0.0% (0.0% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$245</FONT></B>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $0)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Materials 0.0%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>245</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>Smurfit-Stone Container Corp. (I)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>8.000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>03/15/17</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>$245,000</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>245</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Par value</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=1>Value</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Short-Term Investments 0.2% (0.1% of Total Investments)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$342,284</FONT></B>&nbsp;</TD></TR>

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   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><FONT face=sans-serif size=2>(Cost $342,284)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Repurchase Agreement 0.2%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>342,284</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="55%" colSpan=2><FONT face=sans-serif size=2>Repurchase Agreement with State Street Corp. dated 1-31-14 at</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="55%" colSpan=2><FONT face=sans-serif size=2>0.000% to be repurchased at $342,284 on 2-3-14, collateralized by</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="55%" colSpan=2><FONT face=sans-serif size=2>$375,000 Federal National Mortgage Association, 2.080% due 11-2-</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 7.2pt" noWrap align=left width="40%"><FONT face=sans-serif size=2>22 (valued at $350,625, including interest)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>342,284</FONT>&nbsp;</TD>

   <TD noWrap align=right width="15%"><FONT face=sans-serif size=2>342,284</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Total investments (Cost $254,387,072)&#8224; 146.1%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$262,916,649</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Other assets and liabilities, net (46.1%)</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>($82,959,720)</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD width="100%" colSpan=5>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="40%"><B><FONT face=sans-serif size=2>Total net assets 100.0%</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="15%"><B><FONT face=sans-serif size=2>$179,956,929</FONT></B>&nbsp;</TD></TR>

<TR>

   <TD colSpan=5>

   <HR noShade SIZE=1>

</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>The percentage shown for each investment category is the total value of that category as a percentage of the net assets of the fund.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>ADR American Depositary Receipts</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>IO Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>LIBOR London Interbank Offered Rate</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>PIK Paid-in-kind</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>REIT Real Estate Investment Trust</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>USGG U.S. Generic Government Yield Index</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>(a) Includes hybrid securities with characteristics of both equity and debt that trade with, and pay, interest income.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>(b) Includes preferred stocks and hybrid securities with characteristics of both equity and debt that pay dividends on a periodic basis.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>(I) Non-income producing.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>(M) Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>(P) Variable rate obligation. The coupon rate shown represents the rate at period end.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>(Q) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>(S) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $64,270,468 or 35.7% of the fund's net assets as of 1-31-14.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>(Z) All or a portion of this security is pledged as collateral pursuant to the Credit Facility Agreement. Total collateral value at 1-31-14 was $152,717,923.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>&#8224; At 1-31-14, the aggregate cost of investment securities for federal income tax purposes was $255,586,761. Net unrealized appreciation aggregated $7,329,888, of which $12,753,236 related to appreciated investment securities and $5,423,348 related to depreciated investment securities.</FONT></P>

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<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="20%"></TD>

   <TD width="79%"></TD></TR>

<TR vAlign=bottom>

   <TD align=center colSpan=2><FONT face=serif size=2>16</FONT></TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



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<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

<P style="TEXT-ALIGN: left"><B><FONT face=sans-serif size=2>Notes to the Portfolio of Investments</FONT></B></P>

<P style="TEXT-ALIGN: left"><B><FONT face=sans-serif size=2>Security valuation. </FONT></B><FONT face=sans-serif size=2>Investments are stated at value as of the close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 </FONT><FONT face=sans-serif size=1>P</FONT><FONT face=sans-serif size=2>.</FONT><FONT face=sans-serif size=1>M</FONT><FONT face=sans-serif size=2>., Eastern Time. In order to value the securities, the fund uses the following valuation techniques: Equity securities held by the fund are valued at the last sale price or official closing price on the exchange where the security was acquired or most likely will be sold. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Debt obligations are valued based on the evaluated prices provided by an independent pricing vendor or from broker-dealers. Independent pricing vendors utilize matrix pricing which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Swaps and unlisted options are valued using evaluated prices obtained from an independent pricing vendor. Securities that trade only in the over-the-counter (OTC) market are valued using bid prices. Certain short-term securities with maturities of 60 days or less at the time of purchase are valued at amortized cost. Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the fund&#8217;s Pricing Committee following procedures established by the Board of Trustees. </FONT><FONT face=sans-serif size=2>The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the fund&#8217;s own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>The following is a summary of the values by input classification of the fund&#8217;s investments as of January 31, 2014, by major security category or type:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="20%"></TD>

   <TD width="20%"></TD>

   <TD width="20%"></TD>

   <TD width="20%"></TD>

   <TD width="20%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%">&nbsp;</TD>

   <TD noWrap align=left width="20%">&nbsp;</TD>

   <TD noWrap align=left width="20%">&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Level 2</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Level 3</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%">&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Total Market</FONT>&nbsp;</TD>

   <TD noWrap align=left width="20%">&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Significant</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Significant</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%">&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Value at</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Level 1 Quoted</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Observable</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Unobservable</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%">&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>1-31-14</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Price</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Inputs</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>Inputs</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="20%"><FONT face=sans-serif size=1>Corporate Bonds</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>$139,085,675</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>$139,042,958</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>$42,717</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Convertible Bonds</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>491,970</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>491,970</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Term Loans</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>920,566</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>920,566</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Capital Preferred Securities</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>3,442,391</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>3,442,391</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>U.S. Government &amp; Agency Obligations</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>61,343,497</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>61,343,497</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Foreign Government Obligations</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>394,800</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>394,800</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Collateralized Mortgage Obligations</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>31,357,735</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>31,078,180</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>279,555</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Asset Backed Securities</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>13,828,982</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>13,828,982</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Common Stocks</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>9,624,653</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>$9,624,653</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Preferred Securities</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>2,083,851</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>1,299,538</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>784,313</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Escrow Certificates</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>245</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>245</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Short-Term Investments</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>342,284</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>342,284</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="20%">&nbsp;</TD>

   <TD width="80%" colSpan=4>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><B><FONT face=sans-serif size=1>Total Investments in Securities</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="20%"><B><FONT face=sans-serif size=1>$262,916,649</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="20%"><B><FONT face=sans-serif size=1>$10,924,191</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="20%"><B><FONT face=sans-serif size=1>$251,670,186</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="20%"><B><FONT face=sans-serif size=1>$322,272</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><B><FONT face=sans-serif size=1>Other Financial Instruments:</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="20%">&nbsp;</TD>

   <TD noWrap align=left width="20%">&nbsp;</TD>

   <TD noWrap align=left width="20%">&nbsp;</TD>

   <TD noWrap align=left width="20%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="20%"><FONT face=sans-serif size=1>Interest Rate Swaps</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>($730,866)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>($730,866)</FONT>&nbsp;</TD>

   <TD noWrap align=right width="20%"><FONT face=sans-serif size=1>&#8212;</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT face=sans-serif size=2>Repurchase agreements. </FONT></B><FONT face=sans-serif size=2>The fund may enter into repurchase agreements. When the fund enters into a repurchase agreement, it receives collateral that is held in a segregated account by the fund&#8217;s custodian. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral for certain tri-party repurchase agreements is held at a third-party custodian bank in a segregated account for the benefit of the fund.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, the MRA does not result in an offset of the net amounts owed. In the event of a default by the counterparty, realization of the collateral proceeds</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="20%"></TD>

   <TD width="79%"></TD></TR>

<TR vAlign=bottom>

   <TD align=center colSpan=2><FONT face=serif size=2>17</FONT></TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



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<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<P style="TEXT-ALIGN: left"><B><FONT face=serif size=5>John Hancock Income Securities Trust</FONT></B><BR><B><FONT face=serif size=3>As of 1-31-14 (Unaudited)</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay back claims resulting from close-out of the transactions. Collateral received by the fund for repurchase agreements is disclosed in the Portfolio of investments as part of the caption related to the repurchase agreement.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT face=sans-serif size=2>Stripped securities. </FONT></B><FONT face=sans-serif size=2>Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the fund may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities present additional credit risk such that the fund may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT face=sans-serif size=2>Derivative Instruments. </FONT></B><FONT face=sans-serif size=2>The fund may invest in derivatives in order to meet its investment objectives. Derivatives include a variety of different instruments that may be traded in the over-the-counter market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the fund is exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT face=sans-serif size=2>Interest rate swaps. </FONT></B><FONT face=sans-serif size=2>Interest rate swaps represent an agreement between the fund and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The fund settles accrued net interest receivable or payable under the swap contracts at specified, future intervals. Swap agreements are privately negotiated in the OTC market or may be executed on a registered commodities exchange (centrally cleared swaps). </FONT><FONT face=sans-serif size=2>Swaps are marked-to-market daily and the change in value is recorded as unrealized appreciation/depreciation of swap contracts. A termination payment by the counterparty or the fund is recorded as realized gain or loss, as well as the net periodic payments received or paid by the fund. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>During the period ended January 31, 2014, the fund used interest rate swaps in anticipation of rising interest rates. The following table summarizes the interest rate swap contracts held as of January 31, 2014.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="26%"></TD>

   <TD width="11%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD>

   <TD width="19%"></TD>

   <TD width="15%"></TD>

   <TD width="10%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="26%">&nbsp;</TD>

   <TD noWrap align=right width="11%"><FONT face=sans-serif size=2>USD</FONT>&nbsp;</TD>

   <TD noWrap align=left width="3%"></TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="19%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="10%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="26%">&nbsp;</TD>

   <TD noWrap align=right width="11%"><FONT face=sans-serif size=2>NOTIONAL</FONT>&nbsp;</TD>

   <TD noWrap align=left width="3%"><FONT face=sans-serif size=2></FONT></TD>

   <TD noWrap align=left width="15%"><FONT face=sans-serif size=2>PAYMENTS</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="19%"><FONT face=sans-serif size=2>PAYMENTS</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 0.054pt" noWrap align=left width="15%"><FONT face=sans-serif size=2>MATURITY</FONT>&nbsp;</TD>

   <TD noWrap align=right width="10%"><FONT face=sans-serif size=2>MARKET</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="26%"><FONT face=sans-serif size=2>COUNTERPARTY</FONT>&nbsp;</TD>

   <TD noWrap align=right width="11%"><FONT face=sans-serif size=2>AMOUNT</FONT>&nbsp;</TD>

   <TD noWrap align=left width="3%"><FONT face=sans-serif size=2></FONT></TD>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="15%"><FONT face=sans-serif size=2>MADE BY FUND</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="19%"><FONT face=sans-serif size=2>RECEIVED BY FUND</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 0.054pt" noWrap align=left width="15%"><FONT face=sans-serif size=2>DATE</FONT>&nbsp;</TD>

   <TD noWrap align=right width="10%"><FONT face=sans-serif size=2>VALUE</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=7>

   <HR noShade SIZE=1>

</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="26%">&nbsp;</TD>

   <TD noWrap align=left width="11%">&nbsp;</TD>

   <TD noWrap align=left width="3%"><FONT face=sans-serif size=2></FONT></TD>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="15%"><FONT face=sans-serif size=2>Fixed</FONT>&nbsp;</TD>

   <TD noWrap align=left width="19%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="10%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="26%"><FONT face=sans-serif size=2>Morgan Stanley Capital Services</FONT>&nbsp;</TD>

   <TD noWrap align=right width="11%"><FONT face=sans-serif size=2>$22,000,000</FONT>&nbsp;</TD>

   <TD noWrap align=left width="3%"></TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="19%"><FONT face=sans-serif size=2>3 Month LIBOR (a)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 0.001pt" noWrap align=left width="15%"><FONT face=sans-serif size=2>Aug 2016</FONT>&nbsp;</TD>

   <TD noWrap align=right width="10%"><FONT face=sans-serif size=2>($587,597)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="26%">&nbsp;</TD>

   <TD noWrap align=left width="11%">&nbsp;</TD>

   <TD noWrap align=left width="3%"><FONT face=sans-serif size=2></FONT></TD>

   <TD style="TEXT-INDENT: 0.002pt" noWrap align=left width="15%"><FONT face=sans-serif size=2>1.442500%</FONT>&nbsp;</TD>

   <TD noWrap align=left width="19%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="10%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="26%">&nbsp;</TD>

   <TD noWrap align=left width="11%">&nbsp;</TD>

   <TD noWrap align=left width="3%"><FONT face=sans-serif size=2></FONT></TD>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="15%"><FONT face=sans-serif size=2>Fixed</FONT>&nbsp;</TD>

   <TD noWrap align=left width="19%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="10%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="26%"><FONT face=sans-serif size=2>Morgan Stanley Capital Services</FONT>&nbsp;</TD>

   <TD noWrap align=right width="11%"><FONT face=sans-serif size=2>22,000,000</FONT>&nbsp;</TD>

   <TD noWrap align=left width="3%"></TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="19%"><FONT face=sans-serif size=2>3 Month LIBOR (a)</FONT>&nbsp;</TD>

   <TD noWrap align=left width="15%"><FONT face=sans-serif size=2>May 2017</FONT>&nbsp;</TD>

   <TD noWrap align=left width="10%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=left width="26%">&nbsp;</TD>

   <TD noWrap align=left width="11%">&nbsp;</TD>

   <TD noWrap align=left width="3%"><FONT face=sans-serif size=2></FONT></TD>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="15%"><FONT face=sans-serif size=2>1.093750%</FONT>&nbsp;</TD>

   <TD noWrap align=left width="19%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="10%"><FONT face=sans-serif size=2>(143,269)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" noWrap align=left width="26%"><B><FONT face=sans-serif size=2>TOTAL</FONT></B>&nbsp;</TD>

   <TD noWrap align=right width="11%"><B><FONT face=sans-serif size=2>$44,000,000</FONT></B>&nbsp;</TD>

   <TD noWrap align=left width="3%"></TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=left width="19%">&nbsp;</TD>

   <TD noWrap align=left width="15%">&nbsp;</TD>

   <TD noWrap align=right width="10%"><B><FONT face=sans-serif size=2>($730,866)</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px"><FONT face=sans-serif size=2><BR>(a) At 1-31-14, the 3-month LIBOR rate was 0.23660%</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>No interest rate swap positions were entered into or closed during the period ended January 31, 2014.</FONT><FONT face=sans-serif size=2>&nbsp;</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=sans-serif size=2>For additional information on the funds' significant accounting policies, please refer to the funds' recent semiannual or annual shareholder report.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 80%" cellSpacing=0 border=0>



<TR>

   <TD width="20%"></TD>

   <TD width="79%"></TD></TR>

<TR vAlign=bottom>

   <TD align=center colSpan=2><FONT face=serif size=2>18</FONT></TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

<HR align=center width="100%" noShade SIZE=2>



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<P style="text-align: left;">
<FONT size=2 face="sans-serif">ITEM 2. CONTROLS AND PROCEDURES.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-Q, the registrant's principal executive officer and principal accounting officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(b) There were no changes in the registrant's internal control over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">ITEM 3. EXHIBITS.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">Separate certifications for the registrant's principal executive officer and principal accounting officer, as required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached.</FONT></P>
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<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD noWrap align=center><FONT size=2 face=sans-serif>SIGNATURES</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px"><FONT size=2 face=sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0px"><FONT size=2 face=sans-serif>Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>

<P style="MARGIN: 0px"><FONT size=2 face=Arial></FONT>&nbsp;</P>

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<TR>

   <TD width="5%"></TD>

   <TD width="94%"></TD></TR>

<TR vAlign=bottom>

   <TD width="99%" colSpan=2 noWrap align=left><FONT size=2 face=sans-serif>John Hancock Income Securities Trust</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" noWrap align=left><FONT size=2 face=sans-serif>By:</FONT>&nbsp;</TD>

   <TD width="94%" noWrap align=left><FONT size=2 face=sans-serif><U>/s/ Andrew G. Arnott</U></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" noWrap align=left>&nbsp;</TD>

   <TD width="94%" noWrap align=left><FONT size=2 face=sans-serif>Andrew G. Arnott</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" noWrap align=left>&nbsp;</TD>

   <TD width="94%" noWrap align=left><FONT size=2 face=sans-serif>President</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" noWrap align=left><FONT size=2 face=sans-serif>Date:</FONT>&nbsp;</TD>

   <TD width="94%" noWrap align=left><FONT size=2 face=sans-serif>March 24, 2014</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px"><FONT size=2 face=sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0px"><FONT size=2 face=sans-serif>Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</FONT></P>

<P style="MARGIN: 0px"><FONT size=2 face=Arial></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>



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   <TD width="5%"></TD>

   <TD width="94%"></TD></TR>

<TR vAlign=bottom>

   <TD width="5%" noWrap align=left><FONT size=2 face=sans-serif>By:</FONT>&nbsp;</TD>

   <TD width="94%" noWrap align=left><FONT size=2 face=sans-serif><U>/s/ Andrew G. Arnott</U></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" align=center><FONT size=2 face=sans-serif></FONT></TD>

   <TD width="94%" align=left><FONT size=2 face=sans-serif>Andrew G. Arnott</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" noWrap align=left>&nbsp;</TD>

   <TD width="94%" noWrap align=left><FONT size=2 face=sans-serif>President</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" noWrap align=left><FONT size=2 face=sans-serif>Date:</FONT>&nbsp;</TD>

   <TD width="94%" noWrap align=left><FONT size=2 face=sans-serif>March 24, 2014</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" noWrap align=left><FONT size=2 face=sans-serif>By:</FONT>&nbsp;</TD>

   <TD width="94%" noWrap align=left><FONT size=2 face=sans-serif><U>/s/ Charles A. Rizzo</U></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" align=center><FONT size=2 face=sans-serif></FONT></TD>

   <TD width="94%" align=left><FONT size=2 face=sans-serif>Charles A. Rizzo</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" noWrap align=left>&nbsp;</TD>

   <TD width="94%" noWrap align=left><FONT size=2 face=sans-serif>Chief Financial Officer</FONT>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=2>&nbsp;</TD></TR>

<TR>

   <TD width="99%" colSpan=2>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="5%" noWrap align=left><FONT size=2 face=sans-serif>Date:</FONT>&nbsp;</TD>

   <TD width="94%" noWrap align=left><FONT size=2 face=sans-serif>March 24, 2014</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>b_incomesecuritiescerts.htm
<DESCRIPTION>CERTIFICATION
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<P style="TEXT-ALIGN: left"><B><U><FONT size=2 face=sans-serif>CERTIFICATION</FONT></U></B></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>I, Andrew G. Arnott, certify that:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>1. I have reviewed this report on Form N-Q of John Hancock Income Securities Trust (the &#8220;registrant&#8221;);</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>4. The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(c) Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(d) Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>5. The registrant&#8217;s other certifying officer and I have disclosed to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize, and report financial information; and</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</FONT></P>

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   <TD width="50%"></TD></TR>

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   <TD width="50%" noWrap align=left><FONT size=2 face=sans-serif>Date: </FONT><U><FONT size=2 face=sans-serif>March 24, 2014</FONT></U>&nbsp;</TD>

   <TD width="50%" noWrap align=left><FONT size=2 face=sans-serif><U>/s/ Andrew G. Arnott</U></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="50%" noWrap align=left>&nbsp;</TD>

   <TD width="50%" noWrap align=left><FONT size=2 face=sans-serif>Andrew G. Arnott</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="50%" noWrap align=left>&nbsp;</TD>

   <TD width="50%" noWrap align=left><FONT size=2 face=sans-serif>President</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<P style="TEXT-ALIGN: left"><B><U><FONT size=2 face=sans-serif>CERTIFICATION</FONT></U></B></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>I, Charles A. Rizzo, certify that:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>1. I have reviewed this report on Form N-Q of John Hancock Income Securities Trust (the &#8220;registrant&#8221;);</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>4. The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(c) Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(d) Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>5. The registrant&#8217;s other certifying officer and I have disclosed to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize, and report financial information; and</FONT></P>

<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</FONT></P>

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   <TD width="50%" noWrap align=left><FONT size=2 face=sans-serif>Date: </FONT><U><FONT size=2 face=sans-serif>March 24, 2014</FONT></U>&nbsp;</TD>

   <TD width="50%" noWrap align=left><FONT size=2 face=sans-serif><U>/s/ Charles A. Rizzo</U></FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="50%" noWrap align=left>&nbsp;</TD>

   <TD width="50%" noWrap align=left><FONT size=2 face=sans-serif>Charles A. Rizzo</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD width="50%" noWrap align=left>&nbsp;</TD>

   <TD width="50%" noWrap align=left><FONT size=2 face=sans-serif>Chief Financial Officer</FONT>&nbsp;</TD></TR></TABLE></DIV>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
